Tallgrass Energy Partners (TEP) Issues Quarterly Earnings Results

Tallgrass Energy Partners (NYSE:TEP) released its quarterly earnings data on Tuesday. The pipeline company reported $0.67 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.67, Morningstar.com reports. Tallgrass Energy Partners had a net margin of 66.17% and a return on equity of 28.57%. The firm had revenue of $174.80 million for the quarter, compared to analysts’ expectations of $185.17 million. During the same quarter in the previous year, the company earned $0.51 earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year.

Tallgrass Energy Partners (NYSE TEP) opened at $40.30 on Thursday. Tallgrass Energy Partners has a 52-week low of $35.37 and a 52-week high of $55.50. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.50 and a current ratio of 0.55. The stock has a market cap of $2,980.00, a PE ratio of 10.78 and a beta of 0.92.

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Wednesday, January 31st were given a dividend of $0.965 per share. The ex-dividend date of this dividend was Tuesday, January 30th. This represents a $3.86 annualized dividend and a dividend yield of 9.58%. This is a boost from Tallgrass Energy Partners’s previous quarterly dividend of $0.95. Tallgrass Energy Partners’s payout ratio is currently 103.21%.

In related news, insider David G. Dehaemers, Jr. purchased 6,039 shares of Tallgrass Energy Partners stock in a transaction that occurred on Wednesday, November 29th. The shares were bought at an average price of $41.19 per share, for a total transaction of $248,746.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David G. Dehaemers, Jr. purchased 15,000 shares of Tallgrass Energy Partners stock in a transaction that occurred on Tuesday, November 21st. The shares were bought at an average price of $42.97 per share, for a total transaction of $644,550.00. The disclosure for this purchase can be found here. Insiders have purchased 63,890 shares of company stock worth $2,721,728 in the last quarter.

A number of institutional investors and hedge funds have recently made changes to their positions in TEP. Alliancebernstein L.P. lifted its stake in shares of Tallgrass Energy Partners by 5.9% in the second quarter. Alliancebernstein L.P. now owns 9,988 shares of the pipeline company’s stock worth $500,000 after buying an additional 559 shares in the last quarter. Neuberger Berman Group LLC bought a new position in Tallgrass Energy Partners in the third quarter worth approximately $797,000. Duff & Phelps Investment Management Co. raised its position in Tallgrass Energy Partners by 3.2% in the third quarter. Duff & Phelps Investment Management Co. now owns 953,298 shares of the pipeline company’s stock worth $45,653,000 after acquiring an additional 30,000 shares during the period. Harvest Fund Advisors LLC raised its position in Tallgrass Energy Partners by 6.1% in the third quarter. Harvest Fund Advisors LLC now owns 1,874,008 shares of the pipeline company’s stock worth $89,746,000 after acquiring an additional 107,897 shares during the period. Finally, RR Advisors LLC raised its position in Tallgrass Energy Partners by 0.3% in the third quarter. RR Advisors LLC now owns 1,074,000 shares of the pipeline company’s stock worth $51,367,000 after acquiring an additional 3,000 shares during the period. Institutional investors and hedge funds own 61.82% of the company’s stock.

A number of equities analysts have issued reports on TEP shares. Credit Suisse Group started coverage on shares of Tallgrass Energy Partners in a research report on Thursday, January 4th. They issued a “neutral” rating on the stock. Barclays restated a “hold” rating and issued a $55.00 price objective on shares of Tallgrass Energy Partners in a research report on Thursday, October 19th. Robert W. Baird restated a “buy” rating on shares of Tallgrass Energy Partners in a research report on Thursday, December 7th. US Capital Advisors cut shares of Tallgrass Energy Partners from an “overweight” rating to a “hold” rating in a research report on Thursday, January 4th. Finally, Scotiabank restated a “buy” rating on shares of Tallgrass Energy Partners in a research report on Wednesday, October 25th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company’s stock. Tallgrass Energy Partners currently has an average rating of “Hold” and a consensus price target of $52.67.

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About Tallgrass Energy Partners

Tallgrass Energy Partners, LP owns, operates, acquires and develops midstream energy assets in North America. The Company operates through three segments: Crude Oil Transportation & Logistics, Natural Gas Transportation & Logistics and Processing & Logistics. The Crude Oil Transportation & Logistics segment includes the ownership and operation of a Federal Energy Regulatory Commission (FERC) crude oil pipeline system, and crude oil storage and terminaling facilities.

Earnings History for Tallgrass Energy Partners (NYSE:TEP)

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